Wednesday, December 11, 2019

Kevin Gallagher News

Santos Posts Record High Output

(Photo: Santos)

Australia's number two independent gas producer Santos Ltd on Thursday said third-quarter production and sales volumes peaked to record levels, benefiting from higher output from its Western Australia assets.Revenue of $1.03 billion was the second highest quarterly sales on record, the company said in a statement, while production surged 32% to 19.8 million barrels of oil equivalent (mmboe), beating an estimate…

Santos Acquires ConocoPhillips’ Northern Australia Interests

Santos announced it has acquired ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa.Matt Fox, ConocoPhillips executive vice president and chief operating officer, said, “While we believe the Darwin LNG backfill project remains among the lower cost of supply options for new global LNG supply…

Santos Posts Record Production in Q1

Santos in January announced first oil from the Van Gogh infill project, marking the completion of the two-well program that will increase production from the field. (Photo: Santos)

Australia's No.2 independent gas producer Santos Ltd on Wednesday posted record quarterly production, boosted by its acquisition of Quadrant Energy assets, while sales revenue jumped 28 percent.Santos said production for the quarter ended March 31 rose to a record 18.4 million barrels of oil equivalent (mmboe), up from 13.8 mmboe last year.Revenue came in at $1.02 billion, the second-highest quarterly revenue on record…

Santos Finds Gas Off Western Australia

(Image: Santos)

Santos announced Tuesday it has confirmed significant gas resource in the Corvus-2 appraisal in the Carnarvon Basin, offshore Western Australia.Corvus-2 is located in 63 meters water depth, approximately 90 kilometers northwest of Dampier in Commonwealth waters within petroleum permit WA-45-R, in which Santos has a 100% interest.The well was drilled approximately 3 kilometers southwest of Corvus-1 (drilled in…

Santos Broadens Offshore Exploration in N.Australia

Image: Santos

The oil and gas producer in the Asia-Pacific region Santos has struck a joint venture (JV) agreement with fellow-listed Beach Energy to partner over four exploration permits in the Bonaparte basin, offshore northern Australia.The two companies will each hold a 50% JV interest in the four permits, with Santos acting as operator.Santos’ position in the Bonaparte basin already includes an 11.5% interest in the Bayu-Undan gas-condensate field and the Darwin LNG plant…

Australia's Gladstone LNG Plant to Take Unit Offline for Maintenance

Australia's Gladstone liquefied natural gas (LNG) export plant will take one of its production lines out of service for planned maintenance for several weeks in October, industry sources said. The Santos-operated plant will take one of its two production facilities, known as trains, off for maintenance from early October to about Oct. 23, they said. The planned nature of the outage means it is likely to have a limited impact on spot LNG prices in Asia, a trader said.

Santos in the Red on LNG Project

Map: Santos GLNG Project

Australia’s third-biggest oil and gas producer Santos Ltd  reported a first-half net loss of $1.1 billion after taking a $1.05 billion charge on its Gladstone liquefied natural gas (LNG) export project in Queensland, reports Bloomberg. However, Santos Chief Executive Kevin Gallagher said the company may run its Gladstone liquefied natural gas plant (LNG) below its 7.8 million tonnes a year capacity, but said there was no plan to mothball one of its two production units, reports Reuters.

Santos Reports $1.93 bln Loss, Core Profit Misses Forecasts

Australian oil and gas producer Santos Ltd, which rejected a A$7.1 billion takeover last year, slid to a loss in 2015, hit by hefty writedowns, and its new boss said he was working on a strategy to shore it up against weak oil prices. Chief Executive Kevin Gallagher, who took the helm on Feb 1 days after the company's shares hit a 23-year low, said he was confident its assets, including stakes in liquefied natural gas (LNG) projects in Australia and Papua New Guinea…